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AstaGuru's Modern Indian Art Online Auction totals at a remarkable INR 42,69,72,421
By Art Daily
Sep 12, 2021
MUMBAI.- The latest edition of AstaGuru’s Modern Indian Art Online Auction concluded on 9 September 2021 with an outstanding sales value of INR 42,69,72,421 crores (US$ 5,930,146). The auction achieved a ‘White Glove Sale’ with 100% lots sold along with 4 world records for artists Meera Mukherjee, Laxma Goud, Laxman Shreshtha, and Badri Narayan. The auction witnessed competitive bidding across the board as the catalogue featured an impressive line-up of iconic masterpieces from some of India’s most distinguished modernists.
Speaking about the results, Sneha Gautam, Vice President- Client Relations, AstaGuru, said, “AstaGuru is extremely proud of the white glove result achieved by our modern Indian art offering this September. The exceptional results substantiate AstaGuru’s leadership in the modern Indian art market for offering quality works to our clients at varied price points. With every curation, we aim to offer works that are representative of the best that Indian modernism has to offer. The sale featured several milestone works by modern Indian artists and the overwhelming response from collectors underscores the continued demand for works by the modernists that are new to the auction market and have great provenance. Furthermore, the four world records set for artists K Laxma Goud, Meera Mukherjee, Badri Narayan, and Laxman Shreshtha, indicate that the Indian art market is blossoming and that collectors are looking beyond works by the Progressive Artists Group to expand their collections.”
The top highlight of the auction was Lot 28, M F Husain’s Untitled, 1972, an iconic anti-war painting which was a response to the Bangladesh Liberation War of 1971, which resulted in the India - Pakistan conflict. This extraordinary composition is a highly significant work from Husain’s oeuvre, originally from the Pitti family collection. It was offered at auction for the very first time and realized the highest price of the sale at INR 3,45,00,000 crores (US$ 479,166). The work offers a rare glimpse into the artist’s political intellect, and at the same time showcases his mastery with the brush.